Renewables

PPC Renewables, RWE targeting 2 GW solar deal for Greece by year-end

PPC Renewables RWE 2 GW solar Greece

Photo: Unsplash

Published

September 3, 2020

Country

Comments

0

Share

Published:

September 3, 2020

Country:

Comments:

0

Share

PPC Renewables and German RWE are working on a formal business agreement on joint development of photovoltaic systems in lignite mining areas in Greece while coal facilities are being shut down. The two companies are reportedly eyeing a deal through December.

Representatives of Germany’s RWE completed a three-day working visit to Greece, where they visited the coal region in Western Macedonia and spoke with counterparts from state-owned PPC Renewables and government officials about the construction of solar power plants of up to 2 GW.

EU funds’ role in upgrading cooperation 

The two companies signed a memorandum of understanding earlier this year as the first step of cooperation in transforming the lignite area as the Balkan country abandons the harmful fossil fuel. The domestic media learned they intend to upgrade the relationship to a formal contract by the end of the year.

RWE is reportedly examining the availability of land, financial incentives and licensing speed. Greece is looking to use the European Union’s Just Transition Fund and the program for the economy’s recovery from the COVID-19 impact in its energy transition.

Starting small

The German utility is said to have discussed the Greek schedule for turning open pits into solar power plants in relation to the terms of the memorandum, which stipulates RWE and PPC Renewables would develop projects of as much as 1 GW each. News outlets revealed, citing information obtained from officials, that RWE may take over existing licensed projects.

According to sources familiar with the matter, the endeavor could start with smaller photovoltaic facilities and strengthened along the way. RWE’s delegation met with Minister of Development and Investments Adonis Georgiadis and his team.

Insiders claim RWE is already looking for smaller licensed solar projects to buy in Western Macedonia

PPC Renewables is controlled by Public Power Corp. or PPC. It signed several agreements with domestic and foreign companies on joint ventures for the nation’s coal phaseout and investment in green energy. The company is tasked with developing another 1 GW in solar power plants in coal areas in the Peloponnese.

In a major asset swap with German E.ON, completed in July, RWE boosted its renewables portfolio to 9 GW.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment

Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Montenegro to abolish incentives for renewable energy projects

Montenegro to abolish incentives for renewable energy projects

23 July 2021 - Montenegro has reached the national target for the share of renewables, set at 33%, so the government will repeal the decree on incentives.

green-energy-AoG-Greece-aluminum

Greece’s biggest power consumer AoG to switch entirely to green energy from 2030

23 July 2021 - Aluminum of Greece (AoG), the country’s biggest electricity consumer, plans to switch entirely to green energy from 2030, as it signs its last electricity supply deal with Public Power Corporation.

Global solar power to cross 200 GW annual installations threshold in 2021

Global solar power to cross 200 GW annual installation threshold in 2022

22 July 2021 - Solar’s growth confirmed its dominance among all newly installed power generation technologies, reaching a 39% global share.

EPCG presents Solar 3000+ project - installation of solar panels on 3.000 households

EPCG presents Solari 3000+ project – installation of solar panels on 3,000 households

21 July 2021 - EPCG will provide solar panels, the financing and installation, and citizens will repay the equipment in the form of a loan.